Debt and Mental Health

[Undercover Elsa]

Re: Debt and Mental Health

Sorry to hear that Exclus
The first thing I would do is open a parachute account with an unconnected bank. That way you can negotiate for a token monthly payment towards the OD without fear of them offsetting.
Might be an idea to start a thread about this...

Elsa x

[Exclus]

Re: Debt and Mental Health

Glad that the bank saw sense and you, after some heartache, got a result.
My mental health has deteriorated over the past few months, due in no short measure to pressure from a bank. They have recently cancelled an overdraft account, demanded that it is paid in full (they have security by way of a mortgage). I've now been diagnosed with depression, stress, anxiety and hopelessness by our local NHS Trust, and am starting therapy/counselling next week. I have informed the bank of this and am waiting to see just how 'compassionate and helpful' they will be, however I'm not holding my breathe for any positive result.
My problem with the bank has been going on for some time (PlanB knows the history and has been very helpful) and it seems that they have now run out of patience.

[Undercover Elsa]

Re: Debt and Mental Health

Well done Realfedup, it's hard enough dealing with these sharks under normal circumstances, but when you're ill it can literally ruin your life and take away your peace of mind.
The old adage "talk to your bank" if you get into difficulties is a myth. As you've found out, they'll use it to their advantage if they can, call in overdrafts, ruin your credit score and mercilessly look after their own interests at your expense - if they think they can get away with it.
You did exactly the right thing, they MUST treat you fairly if you are ill, and mental illness in particular should flag you up as vulnerable. I'm glad they did the right thing in the end.

Elsa x

[Pixie]

Re: Debt and Mental Health

Thank you so much for sharing this realfedup

It just goes to show how uncaring the banks etc can be but often back down when you stand up to them, which isn't easy at the best of times but even harder when you're in ill health.

Knowledge really is power.

[realfedup]

Hi

just thought that i would share with you an experience i had recently with my (ex) bank. My experience may help others in the same situation.

My health went into decline leading to me losing my job. i alerted my bank at the start of my financial difficulties and health problems - their response was to take me to court for debt one of the debts. The medical profession eventually got involved. i had several accounts with the bank, one of which they sold whilst knowing of my medical condition. i found out about Bank Lending Code 9 rules. Did a holding letter to the DCA who had brought my account, and complained directly to the bank quoting BLC 9, and BBOBs. Just over a week later i got a letter back from the bank with an apology, they shouldn't have sold the account because they had prior knowledge, have brought the account back and to compensate the distress they have caused wiped the account clean - now this was for a lot of money - several thousand pounds.

i wouldn't have had the courage to challenge the bank if not for these forums.

what i have learnt is the importance of opening the letters you are most afraid to when they arrive, and deal with them ASAP. (easier said than done when you are unwell). These forums are a godsend for helping/advising and sharing information to help challenge and redress some of the wrong doing of banks/dca's

i will be making a small donation to AAD, just sorry that i will not be able to afford more.